According to researchers, the Global Lubricating Oils market is accounted for $38.5 million in 2016 and is expected to reach $47.7 million by 2022 growing at a CAGR of 3.1% from 2015 to 2022. Factors such as growing automobile industry, rapidly increasing industrialization & modernization of industrial machinery and globalization of technologies are propelling the market growth. Demand for low viscosity fluids in the automotive industry, deep sea marine lubricants, and recycling of used lubricants are expected to offer major growth opportunities for the lubricant manufacturers. Manufacturing sectors such as 3D printing and medical devices will further complement lubricants industry. However, the market faces a few restraints like volatility in raw material prices and high prices of synthetic & bio-based lubricants. Declining crude oil output, strict environmental regulations and aqueous toxicity of conventional products are expected to hamper market growth. Market would face unprecedented challenges caused by new engine oil specifications and new engine tests.